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Feb 21, 2012
02/12
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i think behind that you have a strengthen in the housing environment as well. >> that's huge news. if this is really a turn for the housing market, do you see other signs of that besides the sales that you've seen at home depot and lowes? >> if you look back at some of the housing related data, the commentary that came out to the home improvement suppliers. all that to me points to a strengthening demand trend over the last few months and, again, i think this has legs. i think it will persist for some time. >> is that time to buy home depot shares. >> i think so. the stock has had a nice move here since the summer lows but there's more to go here. we have a $55 price target. >> would you also be buying shares of lowes? >> i'd buy lowes as well. they report their fourth quarter results. we'll see something similar. they have been performing better lately but i think you'll see continued strength in lowes and both are attractive. >> thank you for your time this morning. >> thank you. >>> what could hd mean to the bro broader markets today. joining us is the chief market strategist. g
i think behind that you have a strengthen in the housing environment as well. >> that's huge news. if this is really a turn for the housing market, do you see other signs of that besides the sales that you've seen at home depot and lowes? >> if you look back at some of the housing related data, the commentary that came out to the home improvement suppliers. all that to me points to a strengthening demand trend over the last few months and, again, i think this has legs. i think it...
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Oct 2, 2012
10/12
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i think the environment is tough, and the confidence is low, and when you have a tough environment and low confidence, i've been somewhat, i don't want to use the word depressed but become somewhat of a pessimist. the one thing sam has been is the giant optimist, the bottom of every market sam is buying stuff. and my problem, and then i had this epiphany and i said you know the problem is, if my assessment of the realities are such, everything is massively too expensive. in other words based on the fiscal cliff and all of the head winds the stock wins should be 9,000, not 14,000. the stock marked is getting bullied by qe7 or 8, whatever number it is so we're creating artificial numbers that i don't think the underline will support. >> if barack obama is reelected, would that put you in a state of you might be dprelsed a little bit longer probably, wouldn't you? >> well i just think it would be a continuation of how i am today. >> what do you think right now, are you, do you think he'll be reelected at this point? >> i'm not a political prognosticator. >> off camera you wouldn't say yes
i think the environment is tough, and the confidence is low, and when you have a tough environment and low confidence, i've been somewhat, i don't want to use the word depressed but become somewhat of a pessimist. the one thing sam has been is the giant optimist, the bottom of every market sam is buying stuff. and my problem, and then i had this epiphany and i said you know the problem is, if my assessment of the realities are such, everything is massively too expensive. in other words based on...
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Nov 8, 2012
11/12
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the regulatory environment much as it is today, banks were the worst performer in the bull market of the '50s. it's not about earnings. you won't get earnings. you will not be able to get an r.o.e. to a level that makes sense. that's a big issue. the capital spending softening that we've seen all fall is also a big consideration, and you see that showing up in enterprise tech, and so i would be very reluctant to delve back into those areas. what has worked is stocks with bond-like characteristics, the idea the fed keeps pushing money into fixed income assets, making risk free assets more and more expensive. >> talking utilities? >> yes. >> but the utilities will get hit with the dividend tax rate. >> right, and i wrote in a note yesterday in the near term there's going to be nowhere to hide. you probably do want to buy those stocks with bond-like characteristics if they do significantly underperform because no doubt the fed will replace operation twist with another call it qe4 and that will continue to work, but right now for me there's no where to hide. >> i can't say i disagree. on
the regulatory environment much as it is today, banks were the worst performer in the bull market of the '50s. it's not about earnings. you won't get earnings. you will not be able to get an r.o.e. to a level that makes sense. that's a big issue. the capital spending softening that we've seen all fall is also a big consideration, and you see that showing up in enterprise tech, and so i would be very reluctant to delve back into those areas. what has worked is stocks with bond-like...
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Jun 4, 2012
06/12
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and if you have an environment -- and you can't blame the president for everything. everything is not his fault. but clearly he's created an environment that says we are not friendly toward job creators. we are looking to raise your taxes, pay your fair share and we want to regulate you more heavily and that environment is a real turnoff to the people that create jobs in this country. >> jash redo you buy that? >> not for a second. the environmental stuff is bunk. somebody he had earlier about four more years. the last four years really haven't been a block of exactly the said kind of economic dynamics. we'd all agree with that. if you go back to when the president took office, we were hemorrhaging jobs. gdp cratering at 9%. so there has been a turn around. the problem is the turn awround hasn't been fast enough. the president has cut taxes very dramatically over his tenure. now, obviously we need more revenue down the road and i think fiscally it's irresponsible not to recognize that. but if you want to -- let me just say one third, about $290 billion of the recover
and if you have an environment -- and you can't blame the president for everything. everything is not his fault. but clearly he's created an environment that says we are not friendly toward job creators. we are looking to raise your taxes, pay your fair share and we want to regulate you more heavily and that environment is a real turnoff to the people that create jobs in this country. >> jash redo you buy that? >> not for a second. the environmental stuff is bunk. somebody he had...
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Feb 16, 2012
02/12
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how is that on the environment? that is ridiculous. >> i'll have to look up the carbon footprint. >> we're going to go -- >> it stirs it all up and makes it worse, puts it up into the atmosphere. >> back to europe and talk about what could be the other domino in the eurozone crisis. portugal's economy minister says his country is not greece this this morning. tough economic reforms in support of the population. he's promising that portugal will not turn its back on the single currency. we tucked about the issue of europe and contagion fears from hank paulson yesterday. take a listen. >> the structural issues around the eu a very difficult issues. difficult analytically. you can put experts in the room and it isn't that obvious what the ultimate solution is. they're different politically and then you have the issues around the fiscal problems of several of the member states. you know that is going to take a good while to griped on. >> silvia wadhwa is in lisbon this morning talking to portuguese officials. she will j
how is that on the environment? that is ridiculous. >> i'll have to look up the carbon footprint. >> we're going to go -- >> it stirs it all up and makes it worse, puts it up into the atmosphere. >> back to europe and talk about what could be the other domino in the eurozone crisis. portugal's economy minister says his country is not greece this this morning. tough economic reforms in support of the population. he's promising that portugal will not turn its back on the...
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Mar 13, 2012
03/12
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>> it's deterioration of the environment. >> factor that out. let's just talk about what it costs per kilowatt hour and whether it can exist as a venture -- >> it can exist as a profitable venture. it costs 18.5 cents. >> and what is natural gas? >> natural gas is in new england about 8 cents. but you're comparing an apple to an orange because with renewable energy the state has a renewable portfolio mandate so there's a renewable energy credit in there that's about 6 cents. we're providing a long-term hedge against volatile fossil fuel prices and offshore wind producers on peak it produces power where and when you need it. >> who are you buying the turbines from? >> siemens. >> that's the wrong answer. that's the wrong answer, jim. >> why is it the wrong answer? it's the most experienced -- >> 49% owned by general electric. >> you are? >> you didn't do your homework coming in here? you just blurted out siemens. you said, i'm not sure. we're considering both. >> i've been in the energy business for 35 years and bought a lot of ge gas turbines. >
>> it's deterioration of the environment. >> factor that out. let's just talk about what it costs per kilowatt hour and whether it can exist as a venture -- >> it can exist as a profitable venture. it costs 18.5 cents. >> and what is natural gas? >> natural gas is in new england about 8 cents. but you're comparing an apple to an orange because with renewable energy the state has a renewable portfolio mandate so there's a renewable energy credit in there that's...
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May 31, 2012
05/12
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government doesn't create jobs, they create an environment where jobs can be created. >> cavedavid, i have a tax ques for you. what do you think the ultimate effective tax rate should be on corporations? >> zero. the problem is from a fairness perspective, nobody would be able to stand it. but at the end of the day, jobs come from companies and if we wanted to create the most effective foreign direct investment pipeline you've ever seen, we would have the lowest rate possible. >> i'm taking credit for -- now i'm hearing like a symphony. >> joe is going crazy. >> finally, you're coming out of your shell! we do need to compete with businesses around the world, right, david? isn't it in everybody's best interests for our businesses to be able to compete best or as much as possible with our competitors? >> correct. absolutely right. that's why the territorial system that congressman scott mentioned earlier, absolutely a piece of that. >> david, i appreciate zero makes the most sense from a business perspective -- >> you're laughing at it. >> realistically there is a larger issue, that we
government doesn't create jobs, they create an environment where jobs can be created. >> cavedavid, i have a tax ques for you. what do you think the ultimate effective tax rate should be on corporations? >> zero. the problem is from a fairness perspective, nobody would be able to stand it. but at the end of the day, jobs come from companies and if we wanted to create the most effective foreign direct investment pipeline you've ever seen, we would have the lowest rate possible....
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May 8, 2012
05/12
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, tax environment. most importantly is not the high marginal tax rate, it's the tax u uncertainty. what's driving people out of the markets is we don't know what the tax is going to be. >> how likely is it we're going to get serious form, as opposed to tweaking it here and there, how likely will it be? >> it's more likely than it will ever. the obama administration didn't take its own recommendation of the -- >> i would have taken -- >> lower rates, getting rid of investment taxes, that's the smart thing to do. the president had the opportunity of a generation to do radical reform. i actually think over the next five years we're going to see something more like real reform. people are fed up. the united states has become less competitive. it's costing us jobs, creating real misery. our tax system today is simply immoral. >> immoral. >> immoral. >> you would love to talk about crony capitalism. it's not a republican/democrat argue in this case. i mean, what's worse, the less infa -- left's infat uation w
, tax environment. most importantly is not the high marginal tax rate, it's the tax u uncertainty. what's driving people out of the markets is we don't know what the tax is going to be. >> how likely is it we're going to get serious form, as opposed to tweaking it here and there, how likely will it be? >> it's more likely than it will ever. the obama administration didn't take its own recommendation of the -- >> i would have taken -- >> lower rates, getting rid of...
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Jul 25, 2012
07/12
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what's the environment like right now? >> well, i've always felt there's a degree to which the environment is what you make. i mean, eigit's a very tough ti but on the other hand people are always interested in great ideas. as long as you come up with ideas the world cannot live without, there's always going to be people willing to back you. >> much more difficult? i assume it's better now than it was two or three years ago? >> it's better now than it was two or three years ago but it's not like it was before. but i think on the other hand, you know, the interesting thing is carnegie hall is unique. as far as i'm concerned it is the greatest concert hall in the world and that creates opportunities as well as responsibilities. i mean, the responsibility is to fulfill that potential. >> sandy, this is a serious question. you not only make huge donations. you ask for huge donations. how easy or hard is it for to you ask? talk about the ask. so many work on the phone with the ask. >> the thing about asking is you have to learn
what's the environment like right now? >> well, i've always felt there's a degree to which the environment is what you make. i mean, eigit's a very tough ti but on the other hand people are always interested in great ideas. as long as you come up with ideas the world cannot live without, there's always going to be people willing to back you. >> much more difficult? i assume it's better now than it was two or three years ago? >> it's better now than it was two or three years...
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Apr 19, 2012
04/12
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in this environment we seem to always go back to europe. we forget about europe and then we decide we want to worry about europe. right now buying opportunity? not? what are you suggesting? >> after the big rally we had, we actually at the end of march -- so early in december we said ahead of the ltros, we thought it was going to be a bigger deal than the market did. we advised investors to tip their toes in the euro area in the equity and debt side. by late march we thought enough is enough. things still looked cheap on an historical basis but given the risks around growths and deficits, we thought the rally had gone enough. >> does that mean if you bought you got to get out? >> i'd say out. and the reason is especially with regard to spain, they have a very wide budget deficit. the economy is in a pretty severe recession and we don't think they get out of it this year. and the market seems to be crying for more fiscal austerity, which is going to make growth worse. italy looks in a little better shape because they run actually a primary b
in this environment we seem to always go back to europe. we forget about europe and then we decide we want to worry about europe. right now buying opportunity? not? what are you suggesting? >> after the big rally we had, we actually at the end of march -- so early in december we said ahead of the ltros, we thought it was going to be a bigger deal than the market did. we advised investors to tip their toes in the euro area in the equity and debt side. by late march we thought enough is...
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Jul 24, 2012
07/12
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>> we're seeing an environment of permit uncertainty. things are going to be uncertainly as far as we can see into the future, and that's why we believe this idea of business technology is the important force for growth. if companies are managing risk or they're managing margin where they have to optimize their work force and their supply chain, they need s.a.p. if they're going to growth, they're trying to reach into new markets around this global economy, they need s.a.p. we're strategically relevant in down or up times sxiand iblg ita level of unsernlts. what's interesting about the position, we grew 22% year over year in europe, and i told you guys the last quarter i believed in europe and see a robust pipeline. so i think there's the whole ecb issue and getting the fiscal policies in order, which will go on for a while, but then there's the idea where companies have to grow. they have to compete in a global economy, and they need s.a.p. >> well, bill, we want to thank you very much for joining us today and congratulations on your nu
>> we're seeing an environment of permit uncertainty. things are going to be uncertainly as far as we can see into the future, and that's why we believe this idea of business technology is the important force for growth. if companies are managing risk or they're managing margin where they have to optimize their work force and their supply chain, they need s.a.p. if they're going to growth, they're trying to reach into new markets around this global economy, they need s.a.p. we're...
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Aug 1, 2012
08/12
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they're now responding to a 2% or 1.5% environment instead of a 3.5% environment. why are we in a 1.5% environment? >> if you take a look at the credit expansion that took place in the 2000s, a lot had to do with home equity takeout. >> we were living -- >> living beyond our needs. >> ira, do you agree with this? >> you know -- well, no, because i see it from a different way. the 1.5% it struggles because the world is struggling around us. japanese were able to muddle through because there was a lot of global growth all around it so it could make mistakes. now to make mistakes in your policy is really -- carries a burden because we have europe -- europe is a mess. other parts of the world. brazil has certainly slowed down from its growth. of course, everybody worries about china. japan has yet to really come out of its bad economic environment. so, the whole world around the united states is not helping us. so, this was what makes a much more difficult going through and why we're in a muddled stage. we're not getting any help from the rest of the globe at this mome
they're now responding to a 2% or 1.5% environment instead of a 3.5% environment. why are we in a 1.5% environment? >> if you take a look at the credit expansion that took place in the 2000s, a lot had to do with home equity takeout. >> we were living -- >> living beyond our needs. >> ira, do you agree with this? >> you know -- well, no, because i see it from a different way. the 1.5% it struggles because the world is struggling around us. japanese were able to...
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Jun 22, 2012
06/12
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a low interest environment is slightly helpful. right now, at least, it's hard to see growth in the. i line and that's where it will always show first, retail sales, consumer demand and then oil prices. oil prices are a great way to gauge dehand. no way about it. >> michael thank you for joining us and have a great weekend. >> thank you. >> coming up you know what day it is. it is friday! friday. ♪ friday. you know, we're not going to do it. friday. look at that. i say it and i want comes out there. here's another one. it's so hot, sorkin's helicopter is overheating. no. i'm not going read them. when we return we'll head to a visitor from pimco and check in also on the consumer with the ceo of garden restaurant, a table for three when box returns. optionsxpress, where you can trade your favorite products, all in one account. keep watch on the markets. or use our exclusive tools to help find ideas. it's powerful, easy-to-use technology for trading stocks, options, and futures. keep trading whether you're at home
a low interest environment is slightly helpful. right now, at least, it's hard to see growth in the. i line and that's where it will always show first, retail sales, consumer demand and then oil prices. oil prices are a great way to gauge dehand. no way about it. >> michael thank you for joining us and have a great weekend. >> thank you. >> coming up you know what day it is. it is friday! friday. ♪ friday. you know, we're not going to do it. friday. look at that. i say it...
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Jun 26, 2012
06/12
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>> well, i think -- i've worked in all kinds of environments, right, and i've worked in union environments. we have union labor in our plants today. we have a great relationship with our unions. our folks have worked with us, so i think it's what you make it. it's how, it's whether you can develop the trust and respect for each other and make sure that you're always doing the right things. >> have you had to cut their benefits? >> we did. we went through some, i would consider some very difficult negotiations, just a few years ago with our labor unions and certainly part of the deal was the medical benefits that were reduced somewhat. >> did they come together collectively and realize that for the preservation, long-term of the company, that it was good for everybody if this happened or is there still resentment, too, you think? >> i think any time you go through a change like that, it's tough, and so i think it takes a while to work through it. i would tell you that we're probably 60% to 70% of the way through it and the changes we're making in our plans and how we're transforming manufac
>> well, i think -- i've worked in all kinds of environments, right, and i've worked in union environments. we have union labor in our plants today. we have a great relationship with our unions. our folks have worked with us, so i think it's what you make it. it's how, it's whether you can develop the trust and respect for each other and make sure that you're always doing the right things. >> have you had to cut their benefits? >> we did. we went through some, i would consider...
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Jun 13, 2012
06/12
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strong balance streaks, table earnings machine, you rp a nice dividends dream in a low rate environment, everybody wants to owe banks and rel lateor and tack pairs are happy, too. it lowers the cost to capital. valuation goes up and even if i'm right and this is the slowest growth decade, the stocks can still do okay as long as the risk is reduced and importantly the perception of risk is reduced. that's where all that corporate govern sans stuff comes, in the triangle of tragedy because the infielders need to hoped the worst performing banks and companies more accountable. at that point we're at a tipping point. 600 letters to their company that they invest with saying we want to talk to you more and make sure you're representing us, the shareholder. >> you're smart. you should go run a bank or go help them with something. you're mauch smarter that. >> what was his name? >> zach. >> osh,am. that was the ownibook, you read book, didn't you? >> coming up, bank one, they were talking about bank one. next up, we'll get perspective on jpmorgan's bad debt. tdd# 1-800-345-2550 the 5-day movin
strong balance streaks, table earnings machine, you rp a nice dividends dream in a low rate environment, everybody wants to owe banks and rel lateor and tack pairs are happy, too. it lowers the cost to capital. valuation goes up and even if i'm right and this is the slowest growth decade, the stocks can still do okay as long as the risk is reduced and importantly the perception of risk is reduced. that's where all that corporate govern sans stuff comes, in the triangle of tragedy because the...
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Jul 26, 2012
07/12
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environments and so we'll continue to leverage the experience we've had with a senior leadership team around the world and we'll move forward. am i inheriting a tougher business, if you would? no, it's mcdonald's and it's the consumer business. it's the restaurant business and so we'll continue to execute the strategies we have and listen to customers and that will help to us migrate threw these times. >> reporter: london is bracing for the full impact on their infrastructure, one of the oldest transportation systems in the world, first laid out by the romans, parts of the train network go back to the mid 1800s. it's estimated because of the games there will be an additional 1 million road and rail trips taken every day in addition to the 3.5 million that are ordinarily taken here in london and david cameron, the prime minister is out today pleading for corporate america to invest in the united kingdom. london spent $14 billion on the games since they landed them in 2005. you saw the economic data, gdp in the second quarter shrank worse than expected. this morning "the times of london
environments and so we'll continue to leverage the experience we've had with a senior leadership team around the world and we'll move forward. am i inheriting a tougher business, if you would? no, it's mcdonald's and it's the consumer business. it's the restaurant business and so we'll continue to execute the strategies we have and listen to customers and that will help to us migrate threw these times. >> reporter: london is bracing for the full impact on their infrastructure, one of the...
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May 16, 2012
05/12
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the company talking about higher extensions in the face of an increasingly strict regulatory environment, that it's hampering user growth for its popular microblocking much like twitter. shares initially rose after that report but then traded down from their highs. shares of twie quinn got a buena vista after a fellow chip maker avongo technologies said that it would settle all patent claims against each other and dismiss related. and arena pharmaceuticals. arena have developing a new obesity treatment. it jumped 74% on the news on friday. let's check on the markets this morning. nine out of ten down days. we've been told for years that greece is too small to matter. it's like the size of delaware or something in terms of gdp. >> the economy, yeah. >> when you take out 700 million euros in one day, that's called a run or at least the start of raun, and sooner or late fehr that happens and they don't get access to euros, they need to start issuing like something so that the financial system -- >> it would be the beginning of the end. >> yeah. >> can i add something i did this morning? i s
the company talking about higher extensions in the face of an increasingly strict regulatory environment, that it's hampering user growth for its popular microblocking much like twitter. shares initially rose after that report but then traded down from their highs. shares of twie quinn got a buena vista after a fellow chip maker avongo technologies said that it would settle all patent claims against each other and dismiss related. and arena pharmaceuticals. arena have developing a new obesity...
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520
Feb 17, 2012
02/12
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we're in this low interest rate environment. this is fairly typical and rem reminiscent what we saw in 2010 but good buy side activity. a lot of demand present. traders are looking for that cpi number coming out at 7:30 central time. hour and 15 minutes from now. right now with stock indis, future products trading up at 13556 level and s&ps were holding right there this is accepting the value at these levels. >> great. all right. that's pretty definitive. i catch your drift. appreciate it. have a good weekend. >>> all right. right now we've been talking about some of those issues and some of the things we've been watching with tax. steve liesman is here and he has more on what he just teased. >> one of the bright spots of the u.s. economy has been the surge in dividends. let's take a look at what's happened. it's been pretty unprecedent. come over here. this is the big number. almost 20% plus year-over-year increase in dividend from the s&p 500. now take a step back and the chart looks random until we overlay recessions on it. t
we're in this low interest rate environment. this is fairly typical and rem reminiscent what we saw in 2010 but good buy side activity. a lot of demand present. traders are looking for that cpi number coming out at 7:30 central time. hour and 15 minutes from now. right now with stock indis, future products trading up at 13556 level and s&ps were holding right there this is accepting the value at these levels. >> great. all right. that's pretty definitive. i catch your drift....
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Dec 19, 2012
12/12
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to get the market down, you need a recessionary environment. it does not look recessionary at the moment. if we can't get the right leadership out of washington, we go over the cliff, no fix, we could wind up with a recession. >> that's the one thing that could screw this up? >> i don't think it's logical. it would be a bad signal to the world we can't govern ourselves. in a couple months the debt ceiling comes into play and if you can't resolve the cliff problems, the debt problems linger. why put the economy through the winger and scare them and then fix it. >> you would also like to see serious changes take place. if this just gets kicked down the road- >> as i said before, i thi think -- i think roughly 70% of tax revenues to the government are coming from wealthy people. let's sit down, republicans and democrats and have an intelligent conversation, what should the maximum marginal tax rate be. mr. buffet, i have enormous respect for warn. he said if you make over a million or 35 or 40%, i can live with that. take that marginal tax rate an
to get the market down, you need a recessionary environment. it does not look recessionary at the moment. if we can't get the right leadership out of washington, we go over the cliff, no fix, we could wind up with a recession. >> that's the one thing that could screw this up? >> i don't think it's logical. it would be a bad signal to the world we can't govern ourselves. in a couple months the debt ceiling comes into play and if you can't resolve the cliff problems, the debt problems...
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Nov 14, 2012
11/12
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when we bought it just superior business model in a tough environment. if things get better, great, employment improves, we're going to have more hook-ups, housing improves, more connections, great growth story. if things don't get better, we're trying to protect for the downside and keep that optionalty if the economy improves. comcast could be a monster return on capital going forward. and that's been a big core holding for quite a while, as well. >> no kidding, you've done well -- you bought it down in the low 20s? >> i don't know the actual cost price in front of me. i can tell you it's been one of our big holdings for a couple of years. home depot and lowe's we bought at the end of '11. we had a thesis that housing was bottoming. and now the housing improvement is accelerating and that's a big deal for the u.s. economy when you think about the spillover effect in construction jobs, you know, furniture, auto, cement, everything that comes with household formation in new home purchases. >> well, we want to thank you for joining us today. >> my pleasur
when we bought it just superior business model in a tough environment. if things get better, great, employment improves, we're going to have more hook-ups, housing improves, more connections, great growth story. if things don't get better, we're trying to protect for the downside and keep that optionalty if the economy improves. comcast could be a monster return on capital going forward. and that's been a big core holding for quite a while, as well. >> no kidding, you've done well -- you...
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Feb 29, 2012
02/12
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the liquidity environment is what pushed us over the cliff. and in retrospect, i don't think there's a lot that any one player could have done about that. >> it's both the event itself and the aftermath are, are almost black swans, they're so rare. because i was reminded, i used to work at lehman brothers as retail broker. and every sing the person that we would cold call, we would send out a book called the merchant bankers. and we would say, are you familiar with lehman brothers? the oldest investment bank in the country and we'd send out this book that showed when it was founded with the rothschild's. it's gone. it's so weird that something that was founded in 1850 or whatever, lehman brothers, that was such a major break in 2008. such a huge -- which i think must give you a little bit of solace, maybe there isn't -- anything that you did to cause it. >> a little bit. >> it would have been very hard to prevent it. >> it was our job to keep it from happening. we didn't do that. when you say i could have done this, i could have done that. the
the liquidity environment is what pushed us over the cliff. and in retrospect, i don't think there's a lot that any one player could have done about that. >> it's both the event itself and the aftermath are, are almost black swans, they're so rare. because i was reminded, i used to work at lehman brothers as retail broker. and every sing the person that we would cold call, we would send out a book called the merchant bankers. and we would say, are you familiar with lehman brothers? the...
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May 25, 2012
05/12
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we misread our environment. we thought the end of the cold war was a great victory but we thought it allowed us to put our feet up when in fact it unleashed 2 billion people just like us, with enormous pent-up aspirations. >> that's what makes me optimistic. absolutely. >> everybody's playing american football. they didn't go to soccer. it's our teams, our game! >> they're playing it like a champagne bottle that was shaken, 50 years and there's enormous pent-up aspiration there. >> last week what were you are ferreting out, some of the issues facing, california california. >> i heard a speaker yesterday say los angeles is america. i like do go to california, to silicon valley, to seattle, to these entrepreneurial hubs to understand where the pluming is going, to understand where the technology is taking us. i find it enormously exciting because of what's going on out there. why are we still hospital mist? see what's coming up from the bottom up. >> there are so many oum there that china's eating our breakfast an
we misread our environment. we thought the end of the cold war was a great victory but we thought it allowed us to put our feet up when in fact it unleashed 2 billion people just like us, with enormous pent-up aspirations. >> that's what makes me optimistic. absolutely. >> everybody's playing american football. they didn't go to soccer. it's our teams, our game! >> they're playing it like a champagne bottle that was shaken, 50 years and there's enormous pent-up aspiration...
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May 30, 2012
05/12
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we're a stable political environment. i think people are underrating the fact that we're going to have an election. one of them is going to win, the other is not going to cause insurrection. different place. different time. >> i was going to say, we'll talk a lot about europe. why brussels apparently thinks they are berlin today. you come up with an idea and it's turned away by the germans. we'll talk about jim cook. he's no stranger to the company. he's handled the hot seat fairly well. >> when you have faith in a balance sheet, apple's balance sheet is better than any balance sheet in europe. they could probably get the same rate that the treasury could do. >> and is there some of the parts out there? we'll break down that trade, of course. >> cramer, you probably love the seeds and the corn. that's one of your stocks. >> that's the first thing that i thought of. >> the chinese need corn. the chinese are always short of harvest. they've got the stacked corn. it's u.s. technology and it's winning. >> hey, carl, i was loo
we're a stable political environment. i think people are underrating the fact that we're going to have an election. one of them is going to win, the other is not going to cause insurrection. different place. different time. >> i was going to say, we'll talk a lot about europe. why brussels apparently thinks they are berlin today. you come up with an idea and it's turned away by the germans. we'll talk about jim cook. he's no stranger to the company. he's handled the hot seat fairly well....
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Mar 12, 2012
03/12
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. >> steve, you had the key question earlier, what does this do to the investing environment. mario, we'll talk about that in a minute. do you have a quick answer? >> no, i'm looking at what moves the economy to the takeoff stage and how do you figure out what the next accelerant is. is it exports? is it housing? where do we see next. >> exports look like they could add a little bit to growth in 2011 but now after the numbers we're getting, looks like trade will be a subtraction to gdp growth in the first quarter certainly and probably for the year, given the slow global growth environment. >> david, we want to thank you very much for coming in and joining us today. it's been a pleasure talking to you. >> you got any other, come on, no? geeky jokes. >> why did god create economists? to make weathermen look good. >> i know some economists -- all right, very good, thank you. >> we're going to check in with steve in a little bit. mario will be with us of course for the rest of the program. >> a rise in participation rate, is that it? >> that's it. >> i got a good one. >> when we
. >> steve, you had the key question earlier, what does this do to the investing environment. mario, we'll talk about that in a minute. do you have a quick answer? >> no, i'm looking at what moves the economy to the takeoff stage and how do you figure out what the next accelerant is. is it exports? is it housing? where do we see next. >> exports look like they could add a little bit to growth in 2011 but now after the numbers we're getting, looks like trade will be a...
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Aug 13, 2012
08/12
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the question is what environment helps them grow and move them along quicker. certainly in 1996 when i started, i really had the tailwind behind me. it was the height of the dot-comera, corporations were moving away from the mainframe, on to the unix environment and i.t. at an all-time high in terms of resources. that trend continues a little bit today. i.t. resources are in -- i.t. unemployment is about half of our general unemployment and will continue to grow. >> you wouldn't say that government head winds are the -- you said would help in '96 you had the dot-comtailwind behind you. >> absolutely. >> is it harder because of tax policy, regulations or obama care or any of those things? >> there's no question every single thing you talked about played a role, access to camel ta, the softening of the economy, the regulation, the taxation, all that is a challenge for all entrepreneurs. >> temporary workers, that's been a boon for your business in many ways. >> um-hum. >> some people would argue the reason that there has been so much push towards temporary worker
the question is what environment helps them grow and move them along quicker. certainly in 1996 when i started, i really had the tailwind behind me. it was the height of the dot-comera, corporations were moving away from the mainframe, on to the unix environment and i.t. at an all-time high in terms of resources. that trend continues a little bit today. i.t. resources are in -- i.t. unemployment is about half of our general unemployment and will continue to grow. >> you wouldn't say that...
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Nov 12, 2012
11/12
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that is a real scoop in an environment where there are no deals, david brought us a very good scoop. >> that's why you haven't participated in any of this. there are no other deals. this was the only one. >> not many needles in the hay stack. >> david found the only one. thank you for bringing it here, david. boyd jeffries name. >> what was it exposure in europe? >> egan had all sorts of rhymes and reasons for that company falling apart. >> we'll talk about shipping right now, from i-phones to apparel, cnbc's senior talent producer, lori ann larocco, our staff, incredible producer and her book "dynasties of the sea," and lori ann, reading through this, we know how important shipping is, we talk about it every day but there were things i didn't realize how much of the things in our homes are brought to us from ships. >> 92% of everything in a household has been on a ship and ever since superstorm sandy we've all realized how important shipping is as we're all going through this gasoline crisis. it's really amazing in terms of the wide breadth that the shipping industry has on the econ
that is a real scoop in an environment where there are no deals, david brought us a very good scoop. >> that's why you haven't participated in any of this. there are no other deals. this was the only one. >> not many needles in the hay stack. >> david found the only one. thank you for bringing it here, david. boyd jeffries name. >> what was it exposure in europe? >> egan had all sorts of rhymes and reasons for that company falling apart. >> we'll talk about...
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Nov 20, 2012
11/12
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they'd like to know what environment they're operating in. they effect them personally and the families of the people that work for them. >> can you get a franchise alone? is it easier than it was a year ago? >> yeah, credit market has loosened up a bit for our franchisees and we're fortunate our model in the investment on the investment side that we don't have to be highly leveraged and our franchisees don't have to be highly leveraged going in. they're able to pay investment out of cash but whenner this borrow money they're getting sba loans out there, smaller banks but it is tougher and it affects their growth. that's for sure. >> the smell is killing me here, i mean in a good way. it's 5:00 somewhere or noon somewhere. bob wright, thank you. we appreciate your time this morning and keep it short. >> are you going for the sub? which way? >> i don't know. >> i could eat it but i know he's an ohio state fan. go blue this weekend. i'm going to holdoff. >>> when we come back we'll talk about betting on a deal to avoid the fiscal cliff. caesar'
they'd like to know what environment they're operating in. they effect them personally and the families of the people that work for them. >> can you get a franchise alone? is it easier than it was a year ago? >> yeah, credit market has loosened up a bit for our franchisees and we're fortunate our model in the investment on the investment side that we don't have to be highly leveraged and our franchisees don't have to be highly leveraged going in. they're able to pay investment out...
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Feb 9, 2012
02/12
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>> well because we're in a low interest rate environment right now. basically that's what the fed wants is for us to create this wealth effect right now and it has been for the past few years, that's clearly stated in the last fed announcement we had a couple of weeks ago. basically since the state of the union address this market has been straight up, 1,300 in the s&ps and hasn't looked back. slow grind higher, light volume type atmosphere. anybody who has gotten in the way of this has had it handed to them for the most part. this market hasn't looked back so not a lot of energy or volume for the most part. i don't want to be fading at this point. this is only one of the major markets that's really been doing anything in terms of breaching any major levels of resistance or support. as i mentioned the other three major markets i look at the gold, the crude and the yen, even the euro currency a fourth market, just sideways, noise. >> byron you're negative the u.s. dollar as well. and bullish on gold. >> i'm bullish on the s&p. >> it's 800 for the s&p t
>> well because we're in a low interest rate environment right now. basically that's what the fed wants is for us to create this wealth effect right now and it has been for the past few years, that's clearly stated in the last fed announcement we had a couple of weeks ago. basically since the state of the union address this market has been straight up, 1,300 in the s&ps and hasn't looked back. slow grind higher, light volume type atmosphere. anybody who has gotten in the way of this...
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Feb 22, 2012
02/12
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. >> so you're hurting -- it's not helping the corporate environment. people think it's pretty good. >> we've talked about this forever. the idea of lowering the rate and getting it low enough, ultimately duct make sense in the context of the in fact the effective rate is lower than that. i think we're going to get down to a rate that's lower. no corporation is -- >> it's a step in the right direction, which is to make it an even playing field. >> but you want to make it an even playing field. you dome want anything going offshore where it's lower. . it's like a state that brings in other businesses. if it's an average 25 -- why gh not go to 25%? >> i was hoping you'd say it's a step in the right direction and we need these three tweaks and we'll be there. >> we're going to argue this. you know that everything that is proposed by the obama administration between now an november is going to be setting up different arguments they can make to frame the election. that's all this is at this point anyway. but if you want to hear my take on this, i wouldn't be
. >> so you're hurting -- it's not helping the corporate environment. people think it's pretty good. >> we've talked about this forever. the idea of lowering the rate and getting it low enough, ultimately duct make sense in the context of the in fact the effective rate is lower than that. i think we're going to get down to a rate that's lower. no corporation is -- >> it's a step in the right direction, which is to make it an even playing field. >> but you want to make it...
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Jun 29, 2012
06/12
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is that the group that you most worry about in the new environment? >> well, i think obviously there's a bun. of factors within health care that will feel the impact negatively. the medical device factor will be hit starting in 2013 with a 2.3% tax on all u.s. sales. and unfortunately that really disproportionately hits smaller companies, so the emerging growth companies that are, you know, the lifeblood of the industry are going to be hit with this tax and they're so low on the profit curve at this point that it's disproportionate to them and that's why you saw some of the companies sell off yesterday. >> you saw the large ones, too. which ones do we especially need to be concerned about if you're investing in these companies? the biggest of the group that have the most exposure to this tax. >> well, for the large cap companies are hit on average by about 3.5% hit to earnings next year. the good news, which there is good news here, the street's largely reflected it in 2013 estimates, and so 2013 will see without other offsets will see a growth decele
is that the group that you most worry about in the new environment? >> well, i think obviously there's a bun. of factors within health care that will feel the impact negatively. the medical device factor will be hit starting in 2013 with a 2.3% tax on all u.s. sales. and unfortunately that really disproportionately hits smaller companies, so the emerging growth companies that are, you know, the lifeblood of the industry are going to be hit with this tax and they're so low on the profit...
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Mar 1, 2012
03/12
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[customer:] we need to protect the environment. [worker:] we could do both. is that possible? [announcer:] at conocophillips, we're helping power america's economy with cleaner, affordable natural gas. more jobs. less emissions. a good answer for everyone. well, if it's cleaner and affordable. as long as we keep these safe. there you go. thanks. [announcer:] conocophillips. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> welcome back, everybody. those u.s. equity futures are improving as we go through the morning. right now the dow futures up by 30 points. this is a turnaround from early this morning when they were indicated lower. and it comes after a day yesterday when the markets did close do
[customer:] we need to protect the environment. [worker:] we could do both. is that possible? [announcer:] at conocophillips, we're helping power america's economy with cleaner, affordable natural gas. more jobs. less emissions. a good answer for everyone. well, if it's cleaner and affordable. as long as we keep these safe. there you go. thanks. [announcer:] conocophillips. americans believe they should be in charge of their own future. how they'll live tomorrow. for more than 116 years,...
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Jun 21, 2012
06/12
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i actually view the environment in washington as being a good one right now. i know that sounds totally contrary. when in our lifetimes can you think of the most important issue in the election campaign being the budget and the economy? i mean, that's really boring stuff. that's the kind of stuff that only guys like me get excited about. now that's really important for the economy. it's the most important issue right now. >> your leg doesn't actually tingle. just as excited as i've seen you when you've been on the show. thank you for joining us. >> my pleasure. thanks for having me. >> i appreciate you being on the set. >> it's been fun. >> maybe i'll bring the dog -- >> bring the dog tomorrow. bring your dog to workday
i actually view the environment in washington as being a good one right now. i know that sounds totally contrary. when in our lifetimes can you think of the most important issue in the election campaign being the budget and the economy? i mean, that's really boring stuff. that's the kind of stuff that only guys like me get excited about. now that's really important for the economy. it's the most important issue right now. >> your leg doesn't actually tingle. just as excited as i've seen...
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May 10, 2012
05/12
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outlook raises red flags about the global technology spending environment and the company's ability to weather persistent economic weakness and john chambers was on cnbc late yesterday. >> businesses don't react well when it's an uncertain environment either from the economy or from government policy. if they understand what the issue yous are, then we'll make the decisions about whether we grow our business, where we invest in resources, how much we give in dividends, how much in acquisitions, et cetera. so that's part of the uncertainty that really bothers my customers the most. >> when he says it, he means it. >> given us policies. >> it's been tough and this is a west coast guy. this is one of your guys. he can west coast guy that should not be talking about uncertainty. >> were you is you are priced to see the reaction on the stock market? we don't know what's happening, we can't forecast it, and then the stock down as much as 9%. >> if you know that the number is unlikely to be good, therefore, you -- i agree, there probably is -- >> customers aren't ordering because of uncertain
outlook raises red flags about the global technology spending environment and the company's ability to weather persistent economic weakness and john chambers was on cnbc late yesterday. >> businesses don't react well when it's an uncertain environment either from the economy or from government policy. if they understand what the issue yous are, then we'll make the decisions about whether we grow our business, where we invest in resources, how much we give in dividends, how much in...
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May 18, 2012
05/12
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not an environment to be on margin, borrow money to buy stocks. there is an amount of uncertainty around the world. you have to make certain assumptions. our assumption is the u.s. does not have a recession and china, hard landing and growth decelerates to 7, maybe 8 opposed to higher numbers you have seen previously. ultimately, the ecb, with the imf, with germany, with france, with the united states, with china and japan, they will deal with the problems in europe. greece will ultimately exit the euro. when they exit the euro basically, they will have put in place a wind fence to protect the system. those are judgments you have to make. if those judgments are wrong, then you have to rewrite your script. >> we'll be back with you. there was an interesting piece in ft, either have this union or you don't. and the minute greece exits you don't have a strong union anymore. >> all or nothing. >> all or nothing. >>> coming up, historic event, andrew and the hoodie. no. facebo facebook, hence the hoodie. >> sweater of the month? >> maybe sweater of the
not an environment to be on margin, borrow money to buy stocks. there is an amount of uncertainty around the world. you have to make certain assumptions. our assumption is the u.s. does not have a recession and china, hard landing and growth decelerates to 7, maybe 8 opposed to higher numbers you have seen previously. ultimately, the ecb, with the imf, with germany, with france, with the united states, with china and japan, they will deal with the problems in europe. greece will ultimately exit...
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May 23, 2012
05/12
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you go after the banks and that in this environment you'd go after the banks for the next ten years to pay that back if the taxpayer had to pay for the fdic. >> no, no, it's actually easy. because what banks would then have to do to keep their low cost of capital, they'd have to reveal what the risk profile truly was, which we don't get. and a real computer time with quick access today they'd be able to do that. and that's the missing link. because if they had to pay real prices for risk capital, the whole system would be vastly different. >> i'm not going to disagree with you. that they added risk to the system at all, but then -- >> the repeal of it. >> but then i think bear stearns, lehman brothers had nothing to do with it, merrill lynch, zero to do with it, aig, nothing to do with it. fannie mae, nothing to do with it, freddie mac, nothing to do with it, bank of america's problems, countrywide, that was their problem, it wasn't a trading issue. >> yeah, but it all built on it. once you repealed it -- listen, why would you repeal it unless it was done for a reason? and the reason w
you go after the banks and that in this environment you'd go after the banks for the next ten years to pay that back if the taxpayer had to pay for the fdic. >> no, no, it's actually easy. because what banks would then have to do to keep their low cost of capital, they'd have to reveal what the risk profile truly was, which we don't get. and a real computer time with quick access today they'd be able to do that. and that's the missing link. because if they had to pay real prices for risk...
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Sep 10, 2012
09/12
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>> you saw bought atpk, a name challenging from the interest rate environment. i think those are some of the characteristics to look at in the future. >> if there's one theme that you hope or emergency emerges today from the conference, it will be what? >> we think there's a lot of focus on interest rates. one reason the stocks did well last week, you you saw the ten year yield back up a bit. we'll see if that continues. loan growth on top of investors' minds. it's being positive, but i think less than desired. and you're hearing more talk about a potential pick up in the capital market environment after a bumpy lasts several quarters. >> jason goldburg, thank you for joining us. go good luck with the conference. >> comments or questions, e-mail us. coming up, president obama squeaking out a fund-raising victory over mitt romney last month. the candidates gearing up for the final stretch before the issues likely to take center stage next. this country was built by working people. the economy needs manufacturing. machines, tools, people making stuff. companies ha
>> you saw bought atpk, a name challenging from the interest rate environment. i think those are some of the characteristics to look at in the future. >> if there's one theme that you hope or emergency emerges today from the conference, it will be what? >> we think there's a lot of focus on interest rates. one reason the stocks did well last week, you you saw the ten year yield back up a bit. we'll see if that continues. loan growth on top of investors' minds. it's being...
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May 21, 2012
05/12
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in this environment we've been talking a lot about the way the economy has been going. you selling a lot of product? >> yes, we are. in fact, paul mitchell salon hair care well patron have grown quite nicely in these last three years and we're highing people also. >> and there's a reason. >> what's the reason? >> the reason is we never lost sight of the quality of our product and maintaining that real high level of quality. and even in tough time when people treat themselves to the high quality and they know that quality will be there, they continue on. it like getting bang for your buck. in difficult times people are used to treating them sefs in special areas, whether it's a spirit or a proper hair care so you really look good and you really feel good. we also feels salons are a barometer. when the industry went back a few years back, salons did not lose their business. they had peoplecoming every four, five or six weeks. but as the industry got better, they came back more often. >> you are a serial entrepreneur and we often talk politics on the set, what politics is
in this environment we've been talking a lot about the way the economy has been going. you selling a lot of product? >> yes, we are. in fact, paul mitchell salon hair care well patron have grown quite nicely in these last three years and we're highing people also. >> and there's a reason. >> what's the reason? >> the reason is we never lost sight of the quality of our product and maintaining that real high level of quality. and even in tough time when people treat...
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430
Apr 20, 2012
04/12
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and that's why the underlying environment is challenging for the president. we've got a 33% right track is better than it had been a few months ago, but not good. >> we got a couple conventions to go through. this is where the veep can kill you, doesn't usually help you, but that will be interesting. you saw that piece yesterday, pick a boring white guy, don't go crazy with -- you you don't need to pick a woman or hispanic, you don't need to think about winning a different state. his guys were portman, mcdonnell, and he had two other. mitch daniels and one other guy. so that it looks like a couple of romneys there. >> i think that is precisely the -- those are the stars on the short list. we've talked about this before. i've been projecting rob portman, but probably daniels would be preferable to mcdonnell. >> it's going to be a billion versus a billion most likely. >> is everything okay with the lighting down there? as i looked at becky, it looked weird. >> we're rolling at 35. we got to go. >> quarterly results coming up from general electric. >>> if your b
and that's why the underlying environment is challenging for the president. we've got a 33% right track is better than it had been a few months ago, but not good. >> we got a couple conventions to go through. this is where the veep can kill you, doesn't usually help you, but that will be interesting. you saw that piece yesterday, pick a boring white guy, don't go crazy with -- you you don't need to pick a woman or hispanic, you don't need to think about winning a different state. his guys...
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Feb 8, 2012
02/12
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>> well, look, i think everybody gets more visibility in a challenging environment. you know, my guess is that for come kaftd, they get more -- they get more content to utilize in different ways on a tv everywhere platform. but to me, frankly, it's probably better phenomenon disney in that, you know, there's a lot of people running around out there concerned about things like, you know, are we moving towards ala carte pricing for disney, for espn and the rest of the cable states? and i think things like this give you more visibility, more confidence that the basic package will remain intact all the time. >> david, the stock yesterday closed down i think just over 2%, 40.98. it's unclear where it's going to open. the bid is at 423. the ax is at 426. what do you think is a fair valuation for this stock at this point? >> to me, the question isn't about earnings, right? which is why i think the stock didn't do that much. the issue for this company is multip multiple. over time, is this a bed of breed media company or is this a best of breed brand company? and that's the
>> well, look, i think everybody gets more visibility in a challenging environment. you know, my guess is that for come kaftd, they get more -- they get more content to utilize in different ways on a tv everywhere platform. but to me, frankly, it's probably better phenomenon disney in that, you know, there's a lot of people running around out there concerned about things like, you know, are we moving towards ala carte pricing for disney, for espn and the rest of the cable states? and i...
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Oct 15, 2012
10/12
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. >> and we heard from jpmorgan last week about what an uncertain environment it is, same sort of comments we're hearing from vicrum bandit, we're managing risk carefully so we can continue to grow our businesses safely and soundly. you heard it with wells fargo and more of the big banks last week including bank of america. >> we'll talk to a banking analyst in a couple of minutes about the details, expenses and things that helped income, whether it was equity or bonds or trading or whatever. equity futures at this hour probably up 40 points or so, and this isn't going to hurt. we had jpmorgan which helped sentiment last week, wells fargo didn't help as much but citigroup, i don't think of them as beating every quarter, but in this indicates, top and bottom line are better. softbank's billionaire founder and sprint ceo dan hessa announcing a deal in tokyo. the mobile operator will buy up 0% of the third largest u.s. carrier for about $20.1 billion. softbank will get access to a u.s. market that's still growing, as you know japan's market is stagnating like so many things over in japan, for
. >> and we heard from jpmorgan last week about what an uncertain environment it is, same sort of comments we're hearing from vicrum bandit, we're managing risk carefully so we can continue to grow our businesses safely and soundly. you heard it with wells fargo and more of the big banks last week including bank of america. >> we'll talk to a banking analyst in a couple of minutes about the details, expenses and things that helped income, whether it was equity or bonds or trading or...
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Jul 23, 2012
07/12
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you want to be very selective on banks in this environment but he's one of the best leaders. you get it behind you and get a very high quality company on sale. >> even the tech stocks and we talked about how that sector s-you know, there's so much growth there. but the multiples are really low. you look at companies like hp or cisco even, electronic arts, these are single digit multiples. at some point somebody will go in and hit some home runs. you're looking at the big picture and where will the growth come? >> what are some other stocks you like >> i like ge. industrials are out of favor but very cheap. they did a good job. i like that story. coke, once again, runs away. and those expectations are high. >> pretty impressive. >> north america and also in the brics. supposedly the brics are following apart. they saw double digit group. e-bay, emc, so many actually last week to be encouraged about. and to your point, revenues weren't that exciting but still pretty good. earn mc doing 11% revenue growth. >> storage, if you're not making money or growing your business in storag
you want to be very selective on banks in this environment but he's one of the best leaders. you get it behind you and get a very high quality company on sale. >> even the tech stocks and we talked about how that sector s-you know, there's so much growth there. but the multiples are really low. you look at companies like hp or cisco even, electronic arts, these are single digit multiples. at some point somebody will go in and hit some home runs. you're looking at the big picture and where...
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Jun 5, 2012
06/12
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we're in a low-growth environment. so if we can get a high single-digit return or a low double-digit net return, that's a home run for investors right now in an environment like this. >> why should people read your book? >> sounds boring though, right? >> what's in your book? >> why should people read the book? >> yeah. >> the book talks about the hedge fund industry and it talks about if you're in a union, you probably have money in a hedge fund somewhere in terms of your allocation fund. the media focusses on the guy that made a billion dollars and stole a billion dollars. those create great readership and viewership but the middle of the industry, professional side of the industry, there a lot of good people doing a really good job. if you're looking for a reasonable rate of return with less volatility, i think the industry is fairly safe. that's the point of the book. >> okay. good to see you, anthony. >> congratulations. >> see you at the book party. >> this is your second. >> when is your second book coming out?
we're in a low-growth environment. so if we can get a high single-digit return or a low double-digit net return, that's a home run for investors right now in an environment like this. >> why should people read your book? >> sounds boring though, right? >> what's in your book? >> why should people read the book? >> yeah. >> the book talks about the hedge fund industry and it talks about if you're in a union, you probably have money in a hedge fund somewhere in...
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Sep 21, 2012
09/12
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jobs, and the fundamental challenge facing america is we are no longer a competitive enough business environment that we can provide a good wage to one of our cens doesn't really have advanced education. this is a deep challenge that we have not faced in this country for at least 50 years. >> you add to that the challenge that we have with globalization, and that all of these tradeable jobs, jobs that can be done anywhere else and the product can be consumed in the united states, and that's just not manufactured or made in china, it can also be i.t. services developed in india. the reality is america has created no new net tradeable jobs in the last 20 years so we combine our own commitment to only job creation through construction and things like that and our inability to create jobs which are truly competitive in the world, that's why we are in this current situation we're in. >> is the answer though more education or finding some other jobs that are going to be great jobs for people who don't have higher education? >> well, i think we have to create a skilled development system in america tha
jobs, and the fundamental challenge facing america is we are no longer a competitive enough business environment that we can provide a good wage to one of our cens doesn't really have advanced education. this is a deep challenge that we have not faced in this country for at least 50 years. >> you add to that the challenge that we have with globalization, and that all of these tradeable jobs, jobs that can be done anywhere else and the product can be consumed in the united states, and...
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Nov 21, 2012
11/12
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and they'd like to know what kind of environment they're operating in. so these are important issues for them. and they do affect them. they affect them personally, their families and the families of the people that work for them. >> joining us now to rise above and talk small business, the chief economist at the national federation of independent businesses, and good morning to you. >> good morning and happy thanksgiving to everybody. >> happy thanksgiving. your sense on the fiscal cliff impacting small business right now. we saw an article earlier this week talking about big corporations slowing down purchases, but we still haven't -- it's not clear it's impacted the consumer and i want to get a sense from you of how it's really impacting smaller businesses. >> well, of course, consumer spending wasn't very strong in the third quarter. in particular, the services sector grew only .8%. and that's a big small business sector, and that's 70% of the 71% of gdp that's consumption. so that's very important. we haven't really seen much of a pick up in spendin
and they'd like to know what kind of environment they're operating in. so these are important issues for them. and they do affect them. they affect them personally, their families and the families of the people that work for them. >> joining us now to rise above and talk small business, the chief economist at the national federation of independent businesses, and good morning to you. >> good morning and happy thanksgiving to everybody. >> happy thanksgiving. your sense on the...
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Aug 8, 2012
08/12
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you look at today's economic environment and you have global deleveraging. look at central bank response to that, deflationary pressures of the private sector deleveraging are being met with monetary stimulus. have you low yields but very flat growth. when you look at risk premiums in high yield market you're talking about getting 7% or 8% above a 70 basis point five-year treasury. >> what do you like right now? if you could buy anything, what would you buy? >> in high yield, because there's a lot of volatility, uncertainty with fiscal cliff and european instability, i still like high-yield market here. what it's pricing in on an absolute level is you're still talking about 700 basis points or 650 of spread premium. you need to see about 40% of the high yield market to file bankruptcy over the next five years to lose money on your investment. in relative value, it's still very attractive. that historical relationship has been about 2 1/2 times. >> did you read bill gross's analysis? did you see this? >> yeah, i saw it. >> he made the bull case for bonds all
you look at today's economic environment and you have global deleveraging. look at central bank response to that, deflationary pressures of the private sector deleveraging are being met with monetary stimulus. have you low yields but very flat growth. when you look at risk premiums in high yield market you're talking about getting 7% or 8% above a 70 basis point five-year treasury. >> what do you like right now? if you could buy anything, what would you buy? >> in high yield,...
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Jan 27, 2012
01/12
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that's always appropriate in this environment. there's a little less swagger, certainly, than a couple years a ago. but there's the base of i call burgeoning cautious optimism and that feels good. >> joe and becky were just talking about the latest debate, the republican debate. one of the issues that keeps coming up and we've had a number of your colleagues, if you will, and peers in the industry on the broadcast this week, private equity, in focus. has it impacted your business at all? do you have to have conversations now with your lps, with all of this focus on romney, private equity, carried interest? how much time are you spending on this? >> well, not as much as you might expect. i have to have conversations with my mother, why those people are saying bad things about private equity, i thought you were in an honorable profession. i said, just tell her i'm a dentist and then we don't have to talk about it, but i'll be serious. i think it's just blown out of proportion as things tend to be in a political season. i don't think
that's always appropriate in this environment. there's a little less swagger, certainly, than a couple years a ago. but there's the base of i call burgeoning cautious optimism and that feels good. >> joe and becky were just talking about the latest debate, the republican debate. one of the issues that keeps coming up and we've had a number of your colleagues, if you will, and peers in the industry on the broadcast this week, private equity, in focus. has it impacted your business at all?...
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Feb 28, 2012
02/12
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very, very expensive to build, and they're ruining the environment. you have the horrible machines all over the place on countrysides and oceans and the wind is really turning out to be a disaster for a lot of people. >> is that a wind farm in the way of one of your golf courses? >> i have that situation in scotland where i built a course i think will be among the world's great golf courses and they want to put a wind farm two miles off the coast and i said you got to be kidding, and now in scotland there's a total uproar over wind and you know, these machines are devastating to the environment. they kill thousands of birds and create lots of other problems, so wind is turning out to be not very good, and i tell you the farms are being abandoned all over the place. >> donald, this is an example of you know, we keep hearing about that the government's got to invest in what it knows is going to be the winners of the future. if you look at cafe standards for cars that people really don't want to buy at this point and they've decided what the energy sourc
very, very expensive to build, and they're ruining the environment. you have the horrible machines all over the place on countrysides and oceans and the wind is really turning out to be a disaster for a lot of people. >> is that a wind farm in the way of one of your golf courses? >> i have that situation in scotland where i built a course i think will be among the world's great golf courses and they want to put a wind farm two miles off the coast and i said you got to be kidding,...
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Aug 16, 2012
08/12
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it may be completely incompetent, and reckless, but don't forget, that in this environment, where everybody wants to see wall street ceos go to jail, everybody punished. >> doesn't everyone want to see everyone go to jail? >> there's tremendous animosity. this is a career moment for a prosecutor. if they can make that case, if they can find crime, they will prosecute it, and i actually think that the real reason that you're not seeing corzine prosecuted, they said i hate to say it, but we don't see any crime and by the way we should all be totally grateful for that, because that means our prosecutors have integrity, they are enforcing the law, they're not abusing their power and throwing people in jail, just because it would be politically popular, which it would be. >> talking about abuse of power, front page of the "wall street journal," let's get another one up here, bank deal rankles regulators. you saw what happened with standard charter, do you have views on that? >> i think we have a problem with the regulatory system in that we had so many different units that can all look at corpor
it may be completely incompetent, and reckless, but don't forget, that in this environment, where everybody wants to see wall street ceos go to jail, everybody punished. >> doesn't everyone want to see everyone go to jail? >> there's tremendous animosity. this is a career moment for a prosecutor. if they can make that case, if they can find crime, they will prosecute it, and i actually think that the real reason that you're not seeing corzine prosecuted, they said i hate to say it,...
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Oct 16, 2012
10/12
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it's a horribly weak demand environment. so a real disconnect between the chips versus what the rest of the market is doing and i think it's important to watch that and be a little nervous about that. >> and you like qualcomm and broad com. >> you know, that's where you hide out in safety right now. if you want to be safe, you got to be with the apple-levered suppliers because the rest of global demand is so weak. >> thank you very much. great talking to you. >> thank you. >>> just a few minutes ago, we unveiled the all-america research team p. joining us is one of the top analysts who is featured on the cover of that. sanjay sakhrani is senior analyst and majoring director. and sanjay, thank you for joining us this morning. >> no problem. >> why don't we talk about first of all a little bit about your coverage area. you are looking at companies like capital one, alliance data systems, ebay, this is all in the consumer finance area? >> yeah, my coverage universe is a bit unique. i cover both financial names and i.t. names. o
it's a horribly weak demand environment. so a real disconnect between the chips versus what the rest of the market is doing and i think it's important to watch that and be a little nervous about that. >> and you like qualcomm and broad com. >> you know, that's where you hide out in safety right now. if you want to be safe, you got to be with the apple-levered suppliers because the rest of global demand is so weak. >> thank you very much. great talking to you. >> thank...
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Jul 5, 2012
07/12
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long-term, bp's made a five hundred million dollar commitment to support scientists studying the environment. and the gulf is open for business - the beaches are beautiful, the seafood is delicious. last year, many areas even reported record tourism seasons. the progress continues... but that doesn't mean our job is done. we're still committed to seeing this through. . >>> jobs, jobs, jobs this morning, the challenger report is out, challenger ceo john challenger joins us with results. not too bad. >> 13-month low for job cuts, at 37,551 for the month, that's down 39% from what we saw in may and down almost 9.5% from what we saw in june a year ago. >> but the year-to-date is not as flattering if you look at it through the first six months compared with last year it's taking account of a couple of bad months we've had here? >> we are. we're up for the first six months of the year at 283,000, up 15% from what we were a year ago. we're back in that same spring, early summer slump, but this is good news. maybe this is a sign that we're starting to see some turnaround, certainly it looks like emp
long-term, bp's made a five hundred million dollar commitment to support scientists studying the environment. and the gulf is open for business - the beaches are beautiful, the seafood is delicious. last year, many areas even reported record tourism seasons. the progress continues... but that doesn't mean our job is done. we're still committed to seeing this through. . >>> jobs, jobs, jobs this morning, the challenger report is out, challenger ceo john challenger joins us with results....